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CBN debunks Aisha Buhari’s ‘fake news’ on N500, N1000 old notes recirculation

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The Central Bank of Nigeria (CBN) has debunked a viral press release posted by the first lady, Aisha Buhari, encouraging Nigerians to continue spending the N500 and N1000 old notes.

Aisha on her verified Facebook page had published a press release allegedly signed by the CBN’s Director Corporate Communications Department, Osita Nwanisobi.

The statement reads in part; “Due to the current and unpleasant situation happening in Nigeria, in line with Mr. president. After having a closed meeting with him on the 20th of February 2023, the CBN has been directed to ONLY reissue and recirculate the old N200, N500, and N1,000 banknotes and this is expected to circulate as legal tender for 70 days up to May, 1, 2023. Members of the public should therefore continue to spend the old notes.”

However, an official statement signed by CBN’s Nwasinobi debunked the press release posted by the first lady while describing it as “FAKE NEWS”.

CBN described the statement as fake and authorized.

Stating its official stand on the naira notes swap, CBN, in the original official statement signed by Nwasinobi said; “The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorized messages quoting the CBN as having authorized the Deposit Money Banks to collect the old N500 and N1,000 Banknotes.

“For the avoidance of doubt and in line with Mr. President’s broadcast of February 16, 2023, the CBN has been directed to ONLY reissue the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023.”


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